Berlin - SMP advised Fly Ventures on the formation of their second venture capital fund. Like the first fund generation, Fly Ventures II, with a total volume of 53 million euros, focuses its investment on technology start-ups. Fly Ventures was comprehensively advised on the structuring of the fund from a legal, regulatory and tax perspective by a team led by SMP partner Jens Kretzschmann.
"Especially in these challenging times, it is important to set an example and demonstrate that topics such as deep-tech need to be further advanced despite economic uncertainties" says Jens Kretzschmann. "Fly Ventures has done this in an impressive way and we are pleased that we were able to accompany them in this process as advisors and to create the legal Framework for their fund".
Fly Ventures is an early stage investor based in Berlin. The Berlin VC has its investment focus on deep-tech start-ups, software companies that use machine learning to promote business Automation, in particular. The VC fund was one of the first of a new generation in Europe to specialise in one sector instead of being generally or purely local.
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 50 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.